Vikram Kamats Hospitality: 45,270 Warrants Lapse with ₹10.05 Lakh Forfeiture
Vikram Kamats Hospitality successfully converted 7,65,325 warrants into equity shares across four allottees, increasing paid-up capital to ₹18.20 crore. Simultaneously, 45,270 warrants held by non-promoter Nabs Vridhii LLP lapsed due to non-conversion within the 18-month period, leading to forfeiture of ₹10.05 lakh under SEBI regulations.
*this image is generated using AI for illustrative purposes only.
Vikram Kamats Hospitality Limited has completed a significant warrant conversion exercise while simultaneously reporting the lapse of 45,270 warrants held by a non-promoter entity. The Allotment Committee of the Board of Directors addressed both developments at its meeting held on April 15, 2026.
Major Warrant Conversion Completed
The company successfully allotted 7,65,325 equity shares to four allottees following the conversion of warrants. The allottees paid the balance 70% of the subscription money as the warrant exercise price to complete the conversion process.
| Parameter: | Details |
|---|---|
| Total Warrants Converted: | 7,65,325 |
| Total Equity Shares Allotted: | 7,65,325 |
| Face Value per Share: | ₹10 |
| Issue Price per Warrant: | ₹74 (including premium of ₹64) |
| Warrant Exercise Price: | ₹51.80 per warrant (70% of issue price) |
| Total Amount Received: | ₹3,96,43,835 |
Allottee-wise Distribution
The warrant conversion involved four entities across promoter and non-promoter categories, significantly altering the company's shareholding pattern.
| Name of Allottee: | Category | Warrants Converted | Post-Conversion Holdings | Shareholding % |
|---|---|---|---|---|
| Dr. Vikram V. Kamat: | Promoter | 1,20,000 | 15,40,541 | 8.46% |
| Kamats Worldwide Food Services Pvt Ltd: | Promoter/Body Corporate | 3,86,541 | 43,25,041 | 23.77% |
| Nabs Vridhii LLP: | Body Corporate/Non-Promoter | 2,25,000 | 3,60,135 | 1.98% |
| Kamal Singh Kathotia HUF: | Public - Hindu Undivided Family | 33,784 | 67,568 | 0.37% |
Warrant Lapse and Forfeiture Details
The company disclosed that 45,270 warrants held by Nabs Vridhii LLP failed to be converted within the stipulated 18-month period from the original allotment date of October 16, 2024. Under SEBI regulations, these warrants have lapsed with forfeiture of the upfront subscription amount.
| Warrant Lapse Details: | Information |
|---|---|
| Allottee Name: | Nabs Vridhii LLP |
| Category: | Non-Promoter |
| Total Warrants Allotted: | 2,70,270 |
| Warrants Converted: | 2,25,000 |
| Warrants Lapsed: | 45,270 |
| Forfeited Amount: | ₹10,04,994 |
| Forfeiture Rate: | 30% of issue price |
Impact on Capital Structure
The warrant conversion resulted in a substantial increase in the company's paid-up equity share capital, while the warrant lapse had no impact on the capital structure.
| Capital Structure: | Before Allotment | After Allotment |
|---|---|---|
| Paid-Up Capital: | ₹17,43,38,650 | ₹18,19,91,900 |
| Number of Shares: | 1,74,33,865 | 1,81,99,190 |
| Capital Increase: | - | ₹76,53,250 |
The original warrants were allotted on a preferential basis at ₹74 per warrant, entitling holders to convert them into equity shares within 18 months. The newly allotted equity shares rank pari passu with existing equity shares. The Allotment Committee approved both the successful conversions and the lapse of unconverted warrants in compliance with SEBI regulations.
Historical Stock Returns for Vikram Kamats Hospitality
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.10% | 0.0% | 0.0% | 0.0% | 0.0% | +609.66% |
How will the increased paid-up capital of ₹76.53 lakh be deployed by Vikram Kamats Hospitality to drive future expansion plans?
What impact will the strengthened promoter shareholding (32.23% combined) have on the company's strategic decision-making and governance structure?
Could the partial warrant conversion by Nabs Vridhii LLP signal potential concerns about the company's growth prospects or market conditions?
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